IDR 133 Trillion New Investments at IWIP (Batteries to Aluminum)
Mon 17 Nov 2025, 15:57 PM
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A number of downstreaming and clean energy projects are being developed at the Indonesia Weda Bay Industrial Park (IWIP) in Central Halmahera, North Maluku.
The total value of new investment in the industrial estate reaches around USD 8 billion or IDR 133.76 trillion (assuming an exchange rate of IDR 16,720 per USD). The arrival of these new investments further completes the supply chain, particularly nickel downstreaming, within the IWIP industrial area.
In detail, the investment consists of three projects. First, a battery ecosystem and nickel downstreaming project with an investment value of approximately USD 5 billion.
This project will produce mixed hydroxide precipitate, nickel sulfate, cobalt sulfate, and nickel precursor, with development extending to electric vehicle (EV) batteries, electric trucks, and electrically powered heavy equipment. Initial production is targeted for early 2026.
Second, a green energy project worth USD 2 billion that includes the development of a 2-gigawatt (GW) solar power plant (PLTS) and a 500-MW wind power plant (PLTB). The development of these renewable energy plants is underway and will be carried out in stages.
In addition, the green energy project also includes the development of a solar panel manufacturing industry with planned production in 2027–2028.
Third, Phase 1 of an Electrolytic Aluminum Smelter project with an investment of around USD 1 billion. This smelter will produce electrolytic aluminum. Initial production is targeted for late 2025.
Beyond these three strategic projects, IWIP is also preparing the development of a Green Energy Zone and a transformation toward a sustainable industrial park, focusing on digitalization, energy efficiency, and the utilization of new and renewable energy (EBT).
The development of the Weda Bay industrial area has also driven an increase in investment flows into North Maluku. In the second quarter of 2025, realized investment in the province reached IDR 19 trillion. Most of this investment came from foreign direct investment (FDI) in the basic metal industry and processing facilities located within IWIP.
“The strong interest from global investors indicates the long-term prospects of nickel downstreaming in Indonesia, while also showing that the presence of IWIP and WBN [PT Weda Bay Nickel] contributes to strengthening the investment climate, expanding processing industries, and spurring regional economic growth,” said IWIP General Manager of External Relations Yudhi Santoso, Sunday (November 16, 2025).
North Maluku’s economy has shown rapid development in recent years. Bank Indonesia (BI) data show that the province’s economy grew by 32.09% year-on-year in the second quarter of 2025, making it the fastest-growing province in Indonesia.
BI also noted that this acceleration was driven primarily by downstreaming and nickel processing activities in the Weda Bay area, involving WBN in the mining sector and IWIP as the processing industry hub.
This economic transformation is also reflected in the province’s gross regional domestic product (GRDP) structure. The manufacturing sector now contributes 40.11% to North Maluku’s economy, followed by the mining sector at 20.79%.
“IWIP and WBN will continue to support North Maluku’s sustainable development, not only through contributions to the regional economy, but also by providing employment opportunities for the community,” Yudhi said.
As of early 2025, WBN and IWIP had employed more than 81,000 direct workers, 80% of whom are from North Maluku.
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